Blucora, Inc. (BCOR) Hits New 1-Year High on Strong Earnings

Blucora, Inc. (NASDAQ:BCOR)’s share price reached a new 52-week high during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $15.93 and last traded at $15.93, with a volume of 417,612 shares. The stock had previously closed at $15.30.

The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. Blucora had a positive return on equity of 3.38% and a negative net margin of 27.61%. The company had revenue of $86.80 million for the quarter, compared to the consensus estimate of $83.39 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. Blucora’s revenue was up 2.1% on a year-over-year basis.

BCOR has been the topic of a number of recent research reports. Barrington Research increased their target price on Blucora from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, October 28th. Benchmark Co. reaffirmed a “buy” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Blucora in a research note on Friday, December 30th.

Several hedge funds and other institutional investors have recently bought and sold shares of BCOR. Municipal Employees Retirement System of Michigan increased its position in Blucora by 1.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,200 shares of the company’s stock valued at $103,000 after buying an additional 130 shares during the period. Aperio Group LLC bought a new position in Blucora during the third quarter valued at approximately $121,000. Bayesian Capital Management LP bought a new position in Blucora during the fourth quarter valued at approximately $158,000. Alambic Investment Management L.P. bought a new position in Blucora during the third quarter valued at approximately $161,000. Finally, Algert Global LLC bought a new position in Blucora during the third quarter valued at approximately $213,000. 82.04% of the stock is currently owned by hedge funds and other institutional investors.

The company’s market cap is $663.54 million. The company has a 50-day moving average of $14.92 and a 200-day moving average of $12.96.

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Blucora Company Profile

Blucora, Inc is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through two segments: the Wealth Management, which consists of the HD Vest, Inc (HD Vest) business, and the Tax Preparation, which consists of the TaxAct, Inc (TaxAct) business.

5 Day Chart for NASDAQ:BCOR

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